57p is an important resistance to break 50% fibs from ATH to last lows.
Once 57p is broken I have a target of 86p.
RSI last bear channel was broken and since then we have been on an ascending RSI channel.
Based on fundamentals I totally believe that SDX Energy has many legs to climb up to my target within the next few months.
Closing above 3.06p target 4.87p
Struggling to close above the 61.8% fibs. and RSI showing some weakness so we might need to retest the lows before having enough strength to go above 61.8% fibs.
RNS today was a gold bull ticket but quite possibly not enough liquidity in the market at moment so bears took power over it.
Looking promising though for the future of...
50% fibs being defended.
RSI still strong
BB's getting tight
Either the 200ma gets closer and we could be in for a bounce or we break the 50ma soon.
All the MA getting close to each other.
Watch for entry.
200ma getting closer to price which I believe it will bring momentum.
Strong support at this price with a double bottom and at 23.6% fibs from highs.
RSI level is rising and selling has dried up.
Many times I have been trying to get a quote with no success so it means MM's are struggling for shares.
Ready for a bullish move within the next 1-3 weeks
Buy signal at 3.82p circled.
if 200ma broken and 50% fibs then the 127% fibs will be my first target which is also the resistance of May 2017 at around 9.84p
also a gap to fill and RSI / CCI in a good bullish trend.
Closing above the 20ma today will be a good indication that we will go higher. There will be some resistance along the way but 1st target for me is 12.86p
2nd target to retest the highs at 15.72p
Buy signal indicated at 9p on the chart.